Affinity Tool Works has reached an agreement with tool and accessory manufacturer HTC Products Inc. to acquire HTC and Portamate. As of Jan. 14, Affinity Tool Works will assume ownership of both HTC and Portamate. The move allows Affinity to broaden its line of tools and accessories, specifically targeted to niche markets including building and construction, remodeling and woodworking.
“Affinity Tool Works is a well-known and respected company that is fully capable of meeting all of the distribution requirements of our dealer network,” said HTC sales director Steve Kuhr.
“This move benefits the HTC and Portamate customer bases as well as that of Affinity Tool Works by offering an expanded product line and enhanced opportunity for ordering efficiency at the dealer level,” said Mike Ursell, president of Affinity Tool Works.
Adding to Affinity Tool Works’ established knowledge and familiarity with similar products and relevant industries is Ursell’s direct experience working with HTC. He spent ten years as HTC’s director of sales and marketing where his duties included building and maintaining relationships with dealers and other partners, strategic planning and management. While Ursell feels his experience gives Affinity an advantage in understanding the companies and products, his entire team is knowledgeable of the industry and markets, and poised to handle the challenges of the acquisition, the company said.
Affinity Tool Works acquires HTC and Portamate
January 6, 2012